Start-Up Oilfield Services Firm Rubicon Nets $300 Million Equity Line
Rubicon Oilfield International, a start-up oilfield services company, announced Warburg Pincus, a global private equity firm, agreed to a line-of-equity investment of up to $300 million in the company.
Houston-based Rubicon’s strategy is to build a global enterprise in the oilfield products and equipment sector through acquisitions and organic re-investment. The company said it will acquire, integrate and enhance small and medium-sized businesses in the upstream oilfield technology sector, focusing on proprietary downhole tools, products and technologies.
“We see a compelling opportunity to build an enterprise focused on upstream oilfield services through accretive transactions and organic growth initiatives,” said Rubicon CEO Michael Reeves. “We will leverage current market trends and consolidation to build a business that will be well-positioned for the long term.”
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